First of Long Island (NASDAQ:FLIC) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of First of Long Island (NASDAQ:FLIC) in a report published on Friday. The firm issued a hold rating on the bank’s stock.

First of Long Island Stock Down 1.8 %

Shares of NASDAQ FLIC opened at $12.29 on Friday. The stock has a market cap of $278.18 million, a PE ratio of 16.39 and a beta of 0.75. First of Long Island has a 52-week low of $9.30 and a 52-week high of $15.03. The business has a 50-day moving average price of $12.69 and a 200 day moving average price of $12.91. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.15.

First of Long Island (NASDAQ:FLIC) last released its earnings results on Thursday, January 30th. The bank reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.10). First of Long Island had a net margin of 9.52% and a return on equity of 4.74%.

First of Long Island Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Monday, March 24th will be given a $0.21 dividend. The ex-dividend date of this dividend is Monday, March 24th. This represents a $0.84 annualized dividend and a dividend yield of 6.83%. First of Long Island’s dividend payout ratio is presently 112.00%.

Institutional Trading of First of Long Island

Several institutional investors and hedge funds have recently made changes to their positions in FLIC. Wellington Management Group LLP grew its holdings in First of Long Island by 50.5% in the 4th quarter. Wellington Management Group LLP now owns 632,365 shares of the bank’s stock valued at $7,386,000 after buying an additional 212,216 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of First of Long Island in the fourth quarter worth approximately $126,000. Sherbrooke Park Advisers LLC purchased a new stake in First of Long Island in the fourth quarter valued at approximately $136,000. Millennium Management LLC increased its position in First of Long Island by 79.9% during the fourth quarter. Millennium Management LLC now owns 154,915 shares of the bank’s stock worth $1,809,000 after purchasing an additional 68,807 shares during the last quarter. Finally, Focus Partners Wealth raised its stake in First of Long Island by 17.1% during the fourth quarter. Focus Partners Wealth now owns 34,288 shares of the bank’s stock worth $400,000 after purchasing an additional 5,008 shares during the period. 48.33% of the stock is currently owned by hedge funds and other institutional investors.

About First of Long Island

The First of Long Island Corporation operates as the holding company for The First National Bank of Long Island that provides financial services to small and medium-sized businesses, professionals, consumers, municipalities, and other organizations. The company offers business and small business checking, personal checking, negotiable order of withdrawal, interest on lawyer, escrow service, rent security, personal and nonpersonal money market, savings, time deposit, and individual retirement accounts.